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Stock Market Oversold 8/12/10

|Includes:SPDR S&P 500 Trust ETF (SPY)

At current levels, our intermediate-term overbought/oversold stock market indicators feel that some of the air has been let out of the market -- and are going long.  We have a full long-signal based on these intermediate-term models.  

Note that due to the sharp sell-off from recent peaks, our long-term model is just very slightly bullish, from its medium long signal.  

Net-net, we will have a bullish stock market stance, with the market's short-term trend helping us with our overall equity exposure.   

8/12/10 3:25pm ET

Disclosure: Long S&P

Stocks: SPY